2025年4月，日本机床订单同比增长7.7%，达到130206日元，较上月11.4%的增长有所放缓。这标志着机床订单连续第七个月增长，尽管增速放缓，主要是由于国内需求同比下降5.4%至34425日元。与此同时，外国订单增长13.3%，至95781日元。按月计算，4月份订单下降了13.8%，扭转了前一时期27.8%的增长。

Japan’s machine tool orders advanced by 7.7% year-on-year to JPY 130,206 in April 2025, slowing from a 11.4% growth in the previous month. This marked the seventh consecutive month of rising machine tool orders albeit at a softer pace, mainly due to a drop of 5.4% from a year earlier in domestic demand to JPY 34,425. Meanwhile, foreign orders climbed by 13.3% to JPY 95,781. On a monthly basis, orders declined by 13.8% in April, reversing a 27.8% jump in the preceding period.

周四，日元兑美元汇率升至146，标志着连续第三个交易日上涨，因为持续的全球贸易不确定性在推高其他货币的同时给美元带来了压力。日元也受益于亚洲货币的更广泛反弹，这是由于人们猜测华盛顿正在倡导美元走弱作为正在进行的贸易谈判的一部分。特朗普政府辩称，亚洲货币的相对疲软使地区出口商比美国同行拥有不公平的贸易优势。与此同时，投资者正密切关注美日贸易谈判的进展，东京方面的目标是在6月前敲定协议。日本首相石破茂强调，日本不会同意一项省略汽车条款的初步协议，并敦促华盛顿取消对日本汽车25%的关税。

The Japanese yen appreciated toward 146 per dollar on Thursday, marking its third straight session of gains as persistent global trade uncertainties pressured the dollar while lifting other currencies. The yen also benefited from a broader rally in Asian currencies, fueled by speculation that Washington is advocating for a weaker dollar as part of ongoing trade negotiations. The Trump administration has argued that the relative weakness of Asian currencies gives regional exporters an unfair trade advantage over their US counterparts. Meanwhile, investors are closely monitoring developments in the US-Japan trade talks, with Tokyo aiming to finalize a deal by June. Prime Minister Shigeru Ishiba emphasized that Japan would not agree to an initial deal that omits provisions on automobiles, urging Washington to remove its 25% tariff on Japanese cars.

在日本央行鹰派预期下，日元似乎准备进一步升值。周四，日元（JPY）连续第三天对美国货币表现出积极的走势，目前似乎已经阻止了前一天从周线高点的后期回落。周三公布的日本批发通胀数据表明，企业继续将成本转嫁给消费者，这加剧了人们对日本价格进一步上涨的担忧。

Japanese Yen seems poised to appreciate further amid hawkish BoJ expectations.The Japanese Yen (JPY) trades with a positive bias against its American counterpart for the third straight day on Thursday and for now, seems to have stalled the previous day's late pullback from the weekly high. Japan's wholesale inflation data released on Wednesday indicated that companies continued to pass on costs to consumers and added to fears of more entrenched price increases in Japan.

周四，日经225指数下跌1%，至37700点左右，而更广泛的东证指数下跌0.7%，至2745点，日本股市连续第二个交易日下跌，因为最近由美中贸易协议推动的市场反弹失去了动力。分析师指出，尽管全球贸易紧张局势的缓解提供了一些缓解，但企业盈利和经济增长的更广泛前景基本保持不变。投资者也在密切关注潜在的美日贸易协定的发展，东京的目标是在6月前敲定协议。在企业新闻方面，索尼集团在预测2025财年将受到7亿美元的关税影响后暴跌4.7%。斯巴鲁股价下跌4.6%，可能受到25亿美元的关税打击，尽管该汽车制造商宣布计划提高美国产量以抵消压力。其他值得注意的跌幅包括迪斯科（-1.6%）、藤仓（-1.7%）、川崎重工（-2%）、任天堂（-2.9%）和丰田汽车（-3%）。

The Nikkei 225 Index fell 1% to around 37,700 while the broader Topix Index dropped 0.7% to 2,745 on Thursday, with Japanese shares sliding for the second straight session as the recent market rally driven by the US-China trade deal lost momentum. Analysts noted that while easing global trade tensions offered some relief, the broader outlook for corporate earnings and economic growth remains largely unchanged. Investors are also closely watching developments in a potential US-Japan trade agreement, with Tokyo aiming to finalize a deal by June. In corporate news, Sony Group plunged 4.7% after projecting a $700 million tariff impact for fiscal 2025. Subaru shed 4.6% amid a potential $2.5 billion tariff hit, although the automaker announced plans to boost US production to offset the pressure. Other notable decliners included Disco (-1.6%), Fujikura (-1.7%), Kawasaki Heavy Industries (-2%), Nintendo (-2.9%), and Toyota Motor (-3%).